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Perpetual Lease Deed

Perpetual Lease Deed Template for Germany

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Key Requirements PROMPT example:

Perpetual Lease Deed

"I need a Perpetual Lease Deed under German law for a commercial property in Munich, intended for retail development, with construction to commence by March 2025 and including specific provisions for sustainable building requirements and future expansion rights."

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Document background
The Perpetual Lease Deed is a specialized legal instrument used in German real estate transactions where long-term property rights need to be established without transferring full ownership. This document is particularly useful for institutional landowners, such as municipalities or churches, who wish to maintain ultimate ownership while granting extensive long-term rights to lessees. It creates a registrable right known as Erbbaurecht under German law, which allows the lessee to use and develop the property while paying periodic ground rent. The deed must comply with strict German legal requirements, including registration in the land registry (Grundbuch), and typically includes comprehensive provisions about property use, development rights, maintenance obligations, and succession arrangements. This type of agreement is commonly used in commercial, residential, and institutional development projects where long-term property rights are essential but full property transfer is not desired or possible.
Suggested Sections

1. Parties: Identification of the lessor and lessee with full legal names, addresses, and registration details if applicable

2. Background: Context of the agreement, including property history and purpose of the perpetual lease

3. Definitions: Definitions of key terms used throughout the deed, including technical and legal terminology

4. Property Description: Detailed description of the leased property including cadastral details, boundaries, and land registry information

5. Grant of Lease: Formal declaration of the perpetual lease grant and its permanent nature

6. Consideration: Details of ground rent, payment terms, and rent review mechanisms

7. Rights and Obligations: Comprehensive outline of both parties' rights and obligations regarding the property

8. Maintenance and Repairs: Responsibilities for property maintenance, repairs, and improvements

9. Insurance: Requirements for property insurance and liability coverage

10. Transfer and Succession: Rules governing the transfer of lease rights and succession provisions

11. Termination: Limited circumstances under which the perpetual lease may be terminated, if any

12. Governing Law: Confirmation of German law application and jurisdiction

13. Registration: Provisions for registration in the Grundbuch (land registry)

Optional Sections

1. Development Rights: Specific provisions regarding construction or development rights on the property, used when future development is contemplated

2. Environmental Provisions: Special environmental obligations and protections, included when the property has environmental significance or risks

3. Third Party Rights: Provisions regarding existing easements or third-party rights, included when applicable

4. Special Use Provisions: Specific terms regarding permitted use of the property, included when there are use restrictions or requirements

5. Mortgage Rights: Provisions regarding the right to mortgage the leasehold interest, included when financing is contemplated

6. Dispute Resolution: Alternative dispute resolution procedures, included when parties wish to specify arbitration or mediation

7. Force Majeure: Provisions for extraordinary circumstances, included when specific risks need to be addressed

Suggested Schedules

1. Property Plan: Detailed plans and drawings of the property including boundaries and measurements

2. Land Registry Extract: Current extract from the Grundbuch showing property details and encumbrances

3. Payment Schedule: Detailed schedule of ground rent payments and review dates

4. Permitted Uses: Detailed list of permitted uses and activities on the property

5. Existing Encumbrances: List of existing easements, rights of way, or other encumbrances

6. Maintenance Schedule: Detailed maintenance obligations and schedules

7. Required Insurances: Specific insurance requirements and minimum coverage levels

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant legal definitions
Property
Lease Period
Ground Rent (Erbbauzins)
Commencement Date
Permitted Use
Building (Bauwerk)
Land Registry (Grundbuch)
Hereditary Building Right (Erbbaurecht)
Lessor (Grundstückseigentümer)
Lessee (Erbbauberechtigter)
Land Plot (Grundstück)
Building Permit (Baugenehmigung)
Development Rights
Maintenance Obligations
Insurance Requirements
Force Majeure
Transfer Rights
Succession Rights
Encumbrances (Belastungen)
Registration Requirements
Payment Date
Interest Rate
Common Areas
Improvements
Structural Alterations
Required Consents
Property Charges
Utilities
Environmental Laws
Planning Laws
Building Regulations
Lease Year
Index Adjustment
Default Event
Remedial Action
Notice Period
Business Day
Competent Authority
Applicable Laws
Material Breach
Clauses
Grant of Lease
Property Description
Duration
Ground Rent
Payment Terms
Rent Review
Property Use
Development Rights
Building Obligations
Maintenance and Repair
Insurance
Property Charges
Registration Requirements
Transfer Rights
Succession Rights
Mortgaging Rights
Environmental Compliance
Utilities and Services
Alterations and Improvements
Permitted Use
Access Rights
Quiet Enjoyment
Force Majeure
Default and Remedies
Termination
Indemnification
Property Return
Dispute Resolution
Notices
Severability
Entire Agreement
Assignment
Governing Law
Land Registry Requirements
Planning Compliance
Building Regulations
Third Party Rights
Encumbrances
Tax Obligations
Representatives and Warranties
Relevant Industries

Real Estate

Commercial Property

Industrial Development

Residential Property

Agriculture

Retail

Infrastructure

Urban Development

Religious Institutions

Educational Institutions

Healthcare Facilities

Renewable Energy

Relevant Teams

Legal

Real Estate

Property Management

Compliance

Facilities Management

Asset Management

Investment

Risk Management

Corporate Affairs

Operations

Relevant Roles

Real Estate Manager

Property Lawyer

Legal Counsel

Property Development Manager

Asset Manager

Facilities Manager

Land Registry Officer

Real Estate Investment Manager

Property Rights Administrator

Compliance Officer

Real Estate Transaction Manager

Urban Planning Director

Chief Legal Officer

Property Portfolio Manager

Industries
Bürgerliches Gesetzbuch (BGB) - German Civil Code: Primary legislation governing contracts, property rights, and lease agreements in Germany. Particularly relevant sections include §§ 535-597 (lease agreements) and §§ 873-902 (property law)
Grundbuchordnung (GBO) - German Land Registration Act: Regulates the registration of real property rights and encumbrances in the land register, which is crucial for long-term lease arrangements
Erbbaurechtsgesetz (ErbbauRG): Law on Hereditary Building Rights, which provides the legal framework for long-term rights to build on another's land, similar to perpetual leases
Grundstücksverkehrsgesetz (GrdstVG): Regulates property transactions and may apply to long-term lease arrangements that are equivalent to property transfers
Wohnungseigentumsgesetz (WEG): Apartment Ownership Act, which may be relevant if the perpetual lease involves residential property units
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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